One method to develop premium within the IOI is the use of an Excel rater.
Requirements Needed to Return a Rate from an Excel
In order to return a rate from an excel sheet, the following format is required:
INPUT Tab: Examples of information - demographics, Home Insurance information, deductibles
OUTPUT Tab: Examples of information - premium, premium by coverage, etc.
Once your rating sheet has been created, questions can be linked from the spreadsheet, and a quoting event set up within the product will generate rates based on the answers provided to your questions.
You will next need to map your inputs and outputs in order to generate quote information.
1. Click on 'Map Questions to the Rating Spreadsheet'
2. You are able to link the cells from the spreadsheet to the product questions. Highlight the Input or output selection and then click on the cell to be linked to that data in the spreadsheet to the right.
Tip: Make sure to 'Save Mapping' when you are finished, or your mappings will be lost.